Chengshan Group Has 45 Days to Decide to Buy Cooper Tire's 65% Interest or Sell Its 35% Stake

Cooper Tire & Rubber Co. on Tuesday unveiled the valuation of its joint venture with Chengshan Group Company Ltd., marking a step forward as the companies seek to resolve its future ownership.

The venture, known as Cooper Chengshan Tire Company Ltd., was valued at about $440 million by an independent firm responsible for determining a fair market value for the venture on a stand-alone basis, Cooper Tire said.